Last updated 3 weeks ago
Lack of invoicing software with native Cardano support hinders business adoption of Cardano and makes accounting a fiscal nightmare.
This is the total amount allocated to Mercury: Invoice. 2 out of 5 milestones are completed.
1/5
User Journey and Setup
Cost: âł 75,000
Delivery: Month 1 - Apr 2024
2/5
Invoices and Exports
Cost: âł 69,639
Delivery: Month 2 - May 2024
3/5
Getting Paid
Cost: âł 48,213
Delivery: Month 3 - Jun 2024
4/5
Extending Interoperability
Cost: âł 48,213
Delivery: Month 4 - Jul 2024
5/5
This little Mercury goes to Market
Cost: âł 58,214
Delivery: Month 5 - Aug 2024
NB: Monthly reporting was deprecated from January 2024 and replaced fully by the Milestones Program framework. Learn more here
Develop a simple, open source invoicing platform that accepts fiat, $ADA, and Cardano native assets along with the requisite reporting and information for merchants to easily begin accepting Cardano.
No dependencies.
All software and documentation developed under this proposal will be released under a Creative Commons 4.0 International Attribution License. Meaning that anyone is free to use the software in any way they see fit as long as they credit the original authors.
Mercury: Invoice is an extension of my work on the first Cardano-enabling plugin (Cardano Mercury WooCommerce) for WooCommerce on the WordPress platform. While this plugin makes it easy to accept a combination of fiat or Cardano on your e-commerce store, creating, sending, and getting paid for invoices on the WooCommerce platform leaves much to be desired.
Some limitations of this current proof of concept are:
In order for a user to use and implement Cardano Mercury as it currently exists, one must install a WordPress installation, the WooCommerce plugin, the Mercury plugin, plus additional plugins for fiat currencies and other functionality, then navigate the WordPress interface to create both products and customers before creating orders and then sending payment links to customers.
There are many freelance agents currently operating in the Cardano ecosystem who regularly exchange $ADA and Cardano Native Assets in exchange for goods and services, usually by sharing a $handle and waiting for the other party to send funds. This is great until the end of the year when you need to figure out what you got paid, when, by whom, and what for (particularly for tax reasons).
Mercury: Invoice aims to close this gap by bringing online a standalone, open source solution for simplified invoicing for merchants that is capable of accepting payment in fiat, $ADA, or Cardano Native Assets of your choosing while keeping records of all of your customers, transactions, what you got paid, and when.
As part of this Catalyst proposal we will develop the system with the intent to deploy a working SaaS-model as well for those who do not wish to operate their own infrastructure to ensure that the platform is as accessible as possible to all interested parties.
Planned features to be included in the âVersion 1.0â release of Mercury: Invoice as part of this proposal include:
Mercury: Invoice will enhance both the creator/merchant economy that already exists in the Cardano ecosystem as well as provide pathways to additional, traditional merchants to begin accepting payment in Cardano and its native assets by creating a simple, affordable, and easy to use platform.
In the past two years, I have served as the Chief Technology Officer at DripDropz and co-founded Tokhun.io, one of the first NFT marketplaces on Cardano. Currently, I am leading the development of the next iteration, TokenRiot.io. Prior to these roles, I worked as a Senior Engineer at MVF Global, a London-based digital marketing firm, for a duration of seven years. I hold a Bachelor of Science degree in Computer Science from the University of Hull, England.
Throughout my career, I have gained extensive experience in building scalable and secure backends, with a strong passion for A.I. and Blockchain technologies. I have also contributed to several open-source projects, including Heidrun, GateKeeper, and Unfrack.it, among others.
Lead Developer: Latheesan Kanesamoorthy
Junior Developers (3): NGong Blockchain Lab
UI/UX: Dmitry Yakovich
Marketing Strategy Development: Doug Brown
Budget: $14,464/month (48,213 ADA @ $0.3 per month)
This is average spend over the entire 6-month period. Some months and milestones may require more or less of a certain individualâs time.
Closeout: $17,464 due at closeout (58,214 ADA @ $0.3)
This proposal offers excellent value for money. The requested budget of 299,279 ADA (approximately $89,784 at current prices) is very reasonable for the scope of work outlined, which includes designing, building, and launching an open-source invoicing platform over 6 months.
The team assembled has strong capabilities, with an experienced lead developer and UI/UX resource. The breakdown shows efficient use of funds, with the majority going towards technical development. Operational costs after launch are also budgeted.
Overall, the proposal represents an affordable way to create an easy-to-use Cardano invoicing solution that can drive further adoption of the network. The open-source nature also means the broader community can benefit from and build on the platform over time.